On November 3, 2023, the State Bank of Vietnam (SBV) issued Decision No. 2080/QD-NHNN revising the License of Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank).
Accordingly, the SBV Governor has approved of two additional operations to be supplemented after Point 22 of Article 4 of License No.13/GP-NHNN dated June 17, 2022 issued by the SBV Governor to Vietinbank, to read as follows:
“23. Providing the service of clearing, payment of securities transactions in accordance with the requirements in Point a, Paragraph 4 of Article 56 of the Law on Securities.
24. Acting as a supervisory bank in accordance with the laws on securities.”
Vietinbank is responsible for implementing the procedures in line with the provisions in Paragraph 3 of Article 18b of Circular No. 40/2011/TT-NHNN dated December 15, 2011 of the SBV Governor stipulating the licensing, the organization and operations of commercial banks, foreign bank branches, representative offices of foreign credit institutions, other foreign organizations having banking operations in Vietnam (as amended and supplemented) regarding the newly added operations;
Vietinbank is also required to perform the additional operations of “acting as a supervisory bank” and “providing the service of clearing, payment of securities transactions in compliance with the provisions in Point a, Paragraph 4 of Article 56 of the Law on Securities” in accordance with the provisions of the Law on Securities, the Law on Credit Institutions (as amended and supplemented in 2017), and other relevant legal regulations.
This Decision took effect from the date of signing and is an integral part of License No.13/GP-NHNN dated June 17, 2022 issued by the SBV Governor to Vietinbank.
Le Hang